Buy NaturalGas Jul @ 282 SL 277 TGT 288-292. MCX - Kedia Advisory
CRUDEOIL
BUY CRUDEOIL JUL @ 5650 SL 5550 TGT 5750-5850. MCX
Observations
Crudeoil trading range for the day is 5599-5939.
Crudeoil dropped weighed by growing concerns over broader trade disruptions that could dampen oil demand.
US crude inventories rose last week while gasoline and distillate stocks unexpectedly declined.
OPEC+ poised to approve major output hike for September as UAE shifts to larger quota.
Additional supply boost unwinds voluntary cuts by eight members, signaling confidence in market strength.
NATURAL GAS
BUY NATURALGAS JUL @ 282 SL 277 TGT 288-292. MCX
Observations
Naturalgas trading range for the day is 268.9-294.7.
Natural gas prices rose as flows to LNG export plants continued to climb steadily higher.
Daily US gas output dropped 2.4 bcfd over six days, reaching four-week low midweek.
LSEG forecasts weather staying warmer than normal across the Lower 48 through late July.
Average gas demand, including exports, projected to rise to 108.8 bcfd next week.
